‘Careful’ Banks Can Invest In Legal Illinois Marijuana

Banks that accept money from legal Illinois marijuana growers won’t “come on our radar for prosecution” if they are “careful” and “transparent” and “follow the laws,” U.S. Attorney Zach Fardon said.

Addressing the issue of Illinois’ move to legalize medical marijuana in the new year in public for the first time Wednesday morning, Fardon acknowledged the growing gap between lenient state marijuana laws and harsher federal laws presented him with a “tricky paradigm.”

But speaking to a breakfast meeting at the downtown Union League Club, Fardon offered qualified reassurance to legitimate businesses looking to cash in on legal weed.

“So long as they follow these laws that are in place, I don’t expect they will come on our radar for prosecution,” Fardon said, adding that it would take time for all the issues between the conflicting state and federal laws to be worked out.